Japan’s SBI Holdings acquires 35% of Philippine venture capital IVPI

Visual from the company website.

Japan-listed SBI Holdings Inc has acquired a 35 per cent stake in ICCP Venture Partners Inc (IVPI), the venture capital arm of Philippine-based financial services and property development firm the ICCP Group.

Detailed amounts of purchased shares were not disclosed.

SBI director and CEO Yoshitaka Kitao announced ICCP Ventures has become an “equity method associate of the company” and an agreement was signed for SBI to become a co-fund manager.

“The collaboration between IVP and the SBI Group based on this agreement is expected to bring increased attractive funding opportunities to venture companies in Asian countries and the US, utilizing both ICCP Group’s and the SBI Group’s global business network,” Kitao said in a statement.

SBI Group as a financial services firm is engaged in securities, banking, and insurance businesses.

IVPI, which has offices in Manila, Hong Kong, and San Francisco, is touted as “the leading Philippine-based practitioner of venture capital-type investing.” Its first two funds are in the top 25 per cent of US venture capital fund returns based on statistics of Cambridge Associates.

IVPI is one of five subsidiaries of medium-sized conglomerate ICCP Group. Its sister companies are boutique investment house Investment & Capital Corp of the Philippines (ICCP), residential projects developer Pueblo de Oro Development Corp, the Science Park of the Philippines Inc, and Singapore-based asset management services Fiducia Asset Management Pte Ltd.

ICCP Group started its venture capital activities in 1997 and has so far invested in 59 venture companies primarily in the fields of software, Cloud, Big Data and mobile, in Asian countries including the Philippines through its offices in Silicon Valley and Manila. Its funds have performed in the top quartile of US venture capital funds as tracked by Cambridge Associates, a US-based investment advisory and research services firm.

Also read:

SBI Holdings invests $10m in Indonesia’s Bank Index Selindo

Philippines: Narra Venture Capital targets fintech, edtech & healthtech startups

Queensland govt, Future Now Ventures co-invest $1m in software firm Jesi

Malaysia’s VC firm 1337 Ventures awards 3 new PH startups

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.